InCharge financial distress/financial well-being scale: Development, administration, and score interpretation

Academic Article


  • This article describes development of the InCharge Financial Distress/Financial Well-Being Scale, designed to measure a latent construct representing responses to one's financial state on a continuum ranging from overwhelming financial distress/lowest level of financial well-being to no financial distress/highest level of financial well-being. It describes a formative Delphi study, validity criteria and testing, factor analysis, Cronbach's alpha coefficients, administration instructions, norming of the data and score interpretation, and implications for use. © 2006 Association for Financial Counseling and Planning Education. All rights of reproduction in any form reserved.
  • Author List

  • Prawitz AD; Garman ET; Sorhaindo B; O'Neill B; Kim J; Drentea P
  • Start Page

  • 34
  • End Page

  • 50
  • Volume

  • 17
  • Issue

  • 1